At a Glance
Products & Services: Chicken
Number of Locations: 18,875
Total Investment: $1.3M - $2.5M
Began Franchising: 1952
About KFC Corp.In 1930, Harland Sanders opened Sanders Court & Cafe in the front room of a gas station in Corbin, Kentucky. He was named an honorary Kentucky Colonel in 1936 for his contributions to local cuisine. Colonel Sanders began franchising in 1952 and awarded the first franchise to Pete Harman in Salt Lake City, Utah. Their handshake agreement stipulated that the corporation would receive a royalty of one nickel for each chicken Harman sold.
His recipe is still a secret, but billions of Colonel Sanders' chicken dinners are served annually in more than 80 countries. KFC is now part of Yum! Brands, which also includes A&W Restaurants, Long John Silver's, Pizza Hut and Taco Bell.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $45,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 20 years, renewable
Financial RequirementsNet Worth: $1,500,000
Liquid Cash Available: $750,000
|Financing Type||In-House||Third Party|